inflation is relatively high, as was the case in the 1970s. In general, the sign of the effect of growth on unemployment is … shown to depend on the level of steady-state inflation. There is a threshold level of inflation below (above) which faster …

rate of inflation is relatively high, as was the case in the 1970s. In general, the effect of growth on unemployment is … shown to be non-monotonic. There is a threshold level of inflation below (above) which faster growth leads to higher (lower …

counterfactual predictions. Motivated by the observation that the 1970s were also characterized by high and rising inflation … the rate of inflation is high enough. There is a threshold level of inflation below which faster growth leads to higher …

This paper investigates the relationship between the Great Moderation and two measures of inflation performance: trend … inflation and inflation volatility. Using annual data from 1970 to 2011 for a large panel of 180 developed and developing … empirical findings show that the effect of inflation volatility is positive, while the effect of trend inflation is negative …